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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I have an executed contract to purchase a leasehold of a

Customer Question

I have an executed contract to purchase a leasehold of a 50,000 SF retail space in a shopping strip in Houston TX for $1,000,000.00. The original ground-lease: base 25-year term ending in Feb. 2018, and four 5-year renewal option at pre-determined rent rate, if executed, will extend the lease to Feb. 2038. I will need to know for sure that the original ground-lease, by legal means, will be extended to me as the new leasehold owner.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.

Good afternoon. My name is ***** ***** I look forward to helping you.

Can you provide me a bit more information? Does the ground less allow the assignment of the leasehold? Does it require the consent of the owner? Is the owenr willing to provide such consent? Thanks.